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With the arrival of fintechs in Mexico, new forms of scams such as hacks also appeared.
The National Organization for Standardization for the industries of Electronics, Telecommunications and Information Technology Grupo NYCE, carried out the inspection in Kata Software.
Kata Software expressed in a statement that in relation to the ISO 27001: 2013 standard, good practices were recognized regarding the security of sensitive information, its defense, protection and management.
The use of finTechs has come to the world to stay. This is a nascent industry in which companies use technology to provide financial services in an efficient, agile, comfortable and reliable way.
With the arrival of fintechs in Mexico, new forms of scams such as hacks also appeared, Therefore, the Bank of Mexico (Banxico) proposed new measures for banking transactions, as well as additional security locks for credit or debit cards.
This law arose after the hack that affected Mexican banks through the interbank electronic payments system (SPEI) in 2018, so the news in this regard is linked to the FinTech Law.
This regulation has several provisions focused on cybersecurity and how to promote the protection of companies.
The leakage of sensitive data puts the security of Mexican account holders at risk
In this sense, Kata Software assured that in recent years, The leakage of sensitive data has put the security of Mexican account holders at risk, which is why some measures have been involved.
Recently, The National Standardization Agency for the Electronics, Telecommunications and Information Technology industries, Grupo NYCE, carried out the inspection on Kata Software and defined a positive rating on compliance with international ISO standards.
Likewise, the company expressed in a statement that in relation to the ISO 27001: 2013 standard, good practices were recognized regarding the security of sensitive information, its defense, protection and management. On the other hand, the quality with which they execute the implementation of the products and intellectual property was highlighted.
Héctor Obregón, General Director of Kata Software commented that “It is important to maintain a practice of continuous improvement in company processes, establish specific guidelines and above all, values in the care of sensitive data.”
ISO27001: 2013 certification is a relevant requirement for contracting software development services. How to preserve the confidentiality, integrity and availability of information is one of the most important assets within an organization.
Fintechs in Mexico
In Mexico, the emergence of fintechs represents a large number, because according to data from Statista in 2020, one out of every five startups in the fintech sector in the country belonged to the subsector of means of payment and remittances, making it the segment with the largest Percentage of emerging financial technology companies in the country.
In this sense, the Fintech Mexico association, whose purpose is to make the country the Latin American capital and world leader in FinTech, highlighted that Mexico, Brazil and Colombia are the main FinTech markets in the Latin American region, and during 2020 they raised more of 3 billion dollars.
The FinTech Map prepared by Legal Paradox, a legal firm specialized in this field, reported that in the country there are more than 752 active entities in the financial technology sector.
Where the three states with the most companies in the sector are: Mexico City with 443, Nuevo León with 67, and Jalisco with 46. Likewise, the segments with the most activity are: Lending with 127, FinTech Tools with 119, Wealth Management 79 and Payments 71.
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